DeFI News by Thebittimes.Com

Former U.K. Chancellor George Osborne has been appointed to Coinbase’s Global Advisory Council to focus on the firm’s regulatory strategy and global expansion. Osborne’s appointment brings a wealth of experience in government and international finance , particularly in fintech investing. Coinbase Chief Policy Officer Faryar Shirzad highly regarded Osborne’s capabilities, emphasizing his significant role in guiding global expansion. Osborne expressed enthusiasm for blockchain technology, recognizing its potential to revolutionize financial markets and online transactions, and remarked on Coinbase as a key player in these developments. We are very pleased to have @George_Osborne join @coinbase's Global Advisory Council. George is one of the most experienced and thoughtful leaders in government and business, and we are grateful to have his advice and counsel as we expand Coinbase around the world.… — Faryar Shirzad ️ (@faryarshirzad) January 31, 2024 ...

Developers of THORChain have unveiled a community proposal to burn around $300 million worth of RUNE tokens to boost lending activity. In a community proposal published on Jan. 30, the THORChain developers suggested burning 60 million RUNE tokens (worth around $300 million as of press time) from the Standby Reserve fund, representing a 12% of the max supply of RUNE. The move, according to the initiative’s description, is set to make room for more loans on THORChain. “By burning ~$300 million in RUNE from standby, it means THORChain can onboard another $100 million in Collateral (33% Lending Lever), which is a $50 million in market-buy on RUNE (200% collateralization ratio).” THORChain A THORChain developer under alias @Pluto9r said in an X post that with the proposal, the project has a “real shot at being the world’s deepest BTC pool,” urging the community to support the proposal. I see it as doubling down on our moat, which is providing $BTC hold...

The non-fungible token market has experienced exponential growth and traction among institutions, users and businesses since it came into the spotlight sometime in 2021. However, the nascent NFT sector has also seen some controversies which can’t be ignored. In this article, we shall explore in-depth why some NFT investors are dumping NFTs despite the recent NFT market resurgence. In a January 30 blog post, Lamboland, an NFT investor and the head of growth at gaming studio World Largest, shared concerns about some of the NFT investors, which have been dumping their non-fungible token holding in recent months despite the NFT market retesting some surge in recent weeks. The dark side of NFTs: Why the biggest whales are calling out web3 gaming projects🧵👇 (1/13) pic.twitter.com/dh71DUBQKO — Lamboland (@LambolandNFT) January 30, 2024 1. AOFverse NFT Collection Earlier this week, Dingaling, a non-fungible token influencer and investor, shared that he sold ...

Two payment giants are collaborating to tackle one of crypto ’s pain points regarding mass adoption: swapping digital assets into fiat currencies. On Jan. 30, Transak and Visa announced a partnership to bridge the gap between the worlds of cryptocurrencies and traditional finance by offering direct crypto-to-card withdrawals in over 145 nations. Visa is a world leader in digital payments, while Transak specializes in building payment infrastructure for crypto and NFTs. Together, the pair noted that on-ramps that allow users to change fiat currencies like the U.S. dollar into crypto like Bitcoin (BTC) have garnered more attention than off-ramps that allow participants to cash out their digital assets. In a statement, the companies said this situation often leaves users unable to exit crypto markets or incentivizes withdrawal methods that may run contrary to local regulations.  Yanilsa Gonzalez-Ore, North America Head of Visa Direct and Global Ecosystem Readiness, remarked t...

Elon Musk ’s X social media platform (formerly known as Twitter) has received a money transmitter license for payment services in Nevada. Earlier this year, the platform announced it aims to launch a peer-to-peer payment service similar to Venmo or PayPal. The payment service is part of Musk’s plans to transform X into an ‘everything app.’ JUST IN: 🇺🇸 X receives money transmitter license for payment services in Nevada. — Watcher.Guru (@WatcherGuru) January 30, 2024 According to a recent blog post by X, the upcoming payment feature aims to unlock ‘more user utility and new opportunities for commerce.’ Also Read: Bitcoin: Elon Musk Considers Using BTC On Mars X has not given an official timeline for when the new payment service will go live. However, while speaking at an X-Space discussion with Cathie Wood, Musk said the service could be available as early as mid-2024. The latest license approval takes the service on...

In what could end up being a massive development for the meme coin, Shiba Inu has seen 800 billion SHIB moved from different wallets. Indeed, the asset transfer could be done for a multitude of reasons. However, what could it mean for the token’s overall price? Currently, Shiba Inu is trading at $0.00000919, and up more than 1% over the last 24 hours, according to CoinMarketCap. The asset has tried desperately to break through to the $0.00001 level since the turn of the new year. Subsequently, these whale movements could have important ramifications on that effort. Also Read: Shiba Inu: AI Predicts SHIB Price For February 1, 2024 Shiba Inu Sees Billions On the Move as Fight to Eliminate a Zero Continues Since the start of 2024, the digital asset market has not lived up to its massive expectations. Despite landmark regulatory shifts through the approval of Spot Bitcoin ETFs in the United States, a host of tokens have failed to gain any significant momentum. Among those ...

BRICS member Russia confirmed on Sunday that Kremlin is working towards building a new payment system without incorporating the U.S. dollar. Russia aims to build a new payment mechanism to settle cross-border transactions with BRICS and other developing countries bypassing the US dollar. The decision to build a new payment system comes after the U.S. pressed sanctions on Russia for invading Ukraine. Also Read: BRICS Expansion a Threat To SWIFT Payment System & US Dollar If Russia succeeds in building a new payment system asking BRICS and other countries to pay in local currencies, the U.S. dollar will be the hardest hit currency. Read here to know how many sectors in the U.S. will be affected if BRICS ditches the dollar for trade. BRICS: Russia Confirms Building a New Payment System With No U.S. Dollar Mechanism Source: thenewsguru.com Kremlin spokesperson Dmitry Peskov confirmed that Russia is advancing towards building a new payment mechanism without the U.S. dollar...

WEN’s value hit $0.00014— a notable increase from its launch price. About 42.40% of eligible wallets have yet to claim the WEN airdrop. WEN might trade higher as the team plans to burn the unclaimed tokens. WEN, a Solana-based meme coin has seen its value jump by 33.45% to $0.00014, according to data from CoinMarketCap. Like the price, WEN’s market cap had also risen to $141.73 million at press time, making the cryptocurrency one of the fastest-growing meme coins on Solana. WEN took off a debut token for the Jupiter launchpad. For the uninformed, Jupiter is a decentralized exchange on Solana. In introducing the launchpad, the exchange airdropped 643,652, WEN tokens each to over a million Solana wallets. WEN Surpasses SHIB’s Volume When the token launched, the market cap was about $54.6 million. So, the recent increase suggested that while eligible wallets for the airdrop might have sold, others were buying them. As a result of this high acti...

Jan 28, 2024 at 07:35 // Price Author Coin Idol The price of Quant (QNT) has fallen below the moving average lines but remains above the $106 support. Price Analysis by Coinidol.com. Long-term forecast for Quant price: bearish The $106 support has been maintained since January 8, 2024. On January 23, 2024, the bears broke the current support as the cryptocurrency fell to a low of $100. Conversely, the bulls took the opportunity created by the dips to push the price above the current support level. QNT is now worth $108. The upside correction faces anoth...

If SOL flips the $94.56 barrier, the price could rise back to $100. OP could pump to $3.50 but SAND’s bullish movement could face a hurdle. ADA’s price might increase to $0.50 but ETH bulls could lose hold on $2,250. Altcoins like Solana (SOL), Optimism (OP), The Sandbox (SAND), Cardano (ADA), and Ether (ETH) made notable recoveries in the last 24 hours, data from CoinMarketCap showed. These numerous climbs brought a halt to the long week of widespread declines. SOL changed hands at $91.14 as of this writing, indicating a 4.62% increase. OP’s price reclaimed $3, SAND jumped by 2.51% and reached $0.44. Details from the price tracking platform also showed that ETH’s value increased to $2,266, while ADA rose to $0.48. The price rise could be attributed to Bitcoin’s (BTC) performance as the coin moved past $42,000. Solana (SOL) SOL pulled back as low as $79 on January 23 as bears were in control of the price action. But a move above $90 sug...

Binance US faces bans in Florida and Alaska after CEO’s guilty plea triggers regulatory crackdown. Florida suspends Binance US’s license, Alaska denies renewal, citing concerns over Zhao’s plea. Despite setbacks, Binance US remains operational in select states. Binance US, the Binance cryptocurrency exchange branch licensed to operate in the US, is under increased regulatory scrutiny as Florida and Alaska enforce bans on its services following the guilty plea of its founder and former CEO, Changpeng Zhao. These developments mark a critical juncture for the crypto industry, emphasizing the challenges faced by Binance US in navigating the evolving legal landscape in the United States. Regulatory crackdown in Florida Florida’s Office of Financial Regulation took swift action, suspending Binance US’s local license and prohibiting the exchange from conducting money transmission activities in the state. The regulatory move follows...

OKX Exchange discontinues Mining Pool services, citing business adjustments. New-user registrations are halted immediately; existing users are allowed until Feb 25. Complete cessation of mining pool-related services scheduled for Feb 26. In a recent announcement, OKX, a major cryptocurrency exchange, has disclosed plans to cease its Mining Pool and related service s. This decision, attributed to business adjustments, is set to impact users starting January 26, 2024. The discontinuation schedule, outlined by OKX, indicates a phased approach with new-user registrations ceasing immediately and existing users having until February 25, 2024, to utilize the service before a complete halt on February 26, 2024. OKX business adjustments While revealing its intention to discontinue the mining pool service s, OKX cited business adjustments as the driving force behind the decision. Effective immediately, new-user registrations for mining services are no longer bei...

We analyze some of the top trending crypto coins on the market, recently listed on exchanges and featured on DEXTools. This article also provides updates on a unique token still in its presale stage. Today on DEXTools, the biggest crypto gainers are Taopad, Virtual Versions, and SatoshiVM amidst a worsening broader market downturn. These tokens have shown that small-cap cryptocurrencies typically dominate the top gainer spots daily due to their low liquidity. This makes them susceptible to rapid exponential gains from even modest buying pressure. Top Trending Crypto Coins on DEXTools While blue-chip cryptocurrencies like Bitcoin can offer substantial upside potential, traders seeking quick profits often turn to low-cap markets. Despite experiencing a rebound on Wednesday, most significant cryptocurrencies remain in a short-term downtrend. Here are some of the top trending crypto coins on DEXTools today. 1 . Taopad (TPAD) Taopad is a cryptocurrency protocol designed to complement t...

The BRICS alliance boasts of nations with the fastest growing economies as their GDP is climbing higher against G7 countries. The development is worrisome as developing countries in BRICS could begin to challenge the Western world of G7 countries’ GDP. The trade wars between BRICS and G7 have already begun as the bloc is looking to dethrone the US dollar. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: BRICS Continue Gold Buying Spree in 2024 In this article, we will compare the BRICS GDP vs the G7 countries of the Western financial world. Here’s how both BRICS and G7 alliances will fare and move up the GDP ladder in the coming decades. BRICS GDP vs G7 Countries Source: cadtm.com China has a GDP of $19.3 trillion taking a larger share of the global economy at 18%. Additionally, its counterpart India comes at a distant second with a GDP of $3.7 trillion contributing 4% to the world’s econo...

Despite a recent strong correction in the cryptocurrency market, Bitcoin (BTC) whales remain bullish on their favorite crypto asset, as demonstrated in their significant accumulation activity over the past two weeks, which shows no signs of slowing down. Indeed, “46 new entities now hold 1,000 BTC or more, marking a 3% increase in just two weeks,” as per the recent data retrieved from the blockchain and crypto industry analytics platform Glassnode and shared in an X post by renowned crypto analyst Ali Martinez on January 24. Bitcoin holders with 1,000+ BTC. Source: Ali Martinez Indeed, according to the Glassnode chart shared by the crypto trading expert, the number of ‘ whales ’ or crypto wallets holding at least 1,000 BTC has continued to grow in the past weeks and has gone way past 1,500 from the earlier 1,480. At the same time, the price decreased, as per the chart patterns. Meanwhile, machine learning algorithms remain bearish compared to Bitcoin whales , expecting that the ...

InsideBitcoins regularly provides a rundown of the best cryptocurrencies to buy now , taking into account their recent price performance. The altcoin market faced a significant setback as Bitcoin dipped below the crucial $40,000 mark. Prominent coins like Ethereum (ETH), Solana (SOL), and Avalanche (AVAX) experienced declines exceeding 5%, with some recording losses surpassing 10%. However, a few altcoins have demonstrated resilience in the market. This article analyses the top-performing cryptocurrencies that are currently making an impact. Best Crypto to Buy Now Today’s article analyzes the top tokens crucial for investors seeking growth opportunities. Moreover, Celestia has emerged as a trailblazer in the blockchain world, presently trading at $16.52. Furthermore, this article analyses VeChain’s integration with Ledger Live and Sei’s recent market movements. 1. Celestia (TIA) Celestia has emerged as a trailblazer in the world of blockchain, championing the modu...